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Please solve question 4 and 5 and show the needed work to arriveat the answers. Ray Starr has the utility function ( U(x, y)=y /(100-x)
Please solve question 4 and 5 and show the needed work to arriveat the answers. Ray Starr has the utility function \( U(x, y)=y /(100-x) \). 1. Does Ray prefer more to less of both goods? Explain? 2. Draw a diagram showing Ray's indifference curves corresponding to the utility le 2 answers
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